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The Demise of the Dollar... and Why It's Great For Your Investments Paperback – August 8, 2005


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Product Details

  • Paperback: 218 pages
  • Publisher: Wiley (August 8, 2005)
  • Language: English
  • ISBN-10: 0471746010
  • ISBN-13: 978-0471746010
  • Product Dimensions: 9 x 6.1 x 0.6 inches
  • Shipping Weight: 9.6 ounces
  • Average Customer Review: 3.3 out of 5 stars  See all reviews (79 customer reviews)
  • Amazon Best Sellers Rank: #1,415,723 in Books (See Top 100 in Books)

Editorial Reviews

Amazon.com Review

"Our long history of economic power and wealth is being eroded from within," writes Addison Wiggin, and the result will be reduced foreign investment, slow foreign demand for U.S. goods, and unfavorable currency exchange rates. A heavy debt burden, the trade deficit, and structural imbalances have created an unstable dollar bubble, and according to Wiggin, it's not a matter of if the bubble will burst, but when. That's the bad news. The good news is that hidden investment opportunities are waiting behind the weakening dollar. In The Demise of the Dollar… and Why It's Great for Your Investments Wiggin offers advice to readers looking to capitalize on this reality; specifically, he encourages investing in precious metals, tangible resources, and some select foreign markets.

Along with investment advice, Wiggin provides a brief history of government and consumer spending habits and how they have changed over the past 200 years. In clear language, he states the reasons for the dollar's decline, and provides explanations of the forces behind inflation, modern corporate accounting and adjustment schemes, the parallels between corporate failures and government policies, the implications of the national debt and deficit spending, and the distinctions between productive and consumptive debt. He also discusses how foreign countries, particularly China, are ultimately in control of the U.S.'s economic fate due to the staggering amount of credit they have extended. Wiggin is highly critical of Federal Reserve Chairman Alan Greenspan's policies, particularly the massive shift from production to credit that he has espoused, and calls into question his efforts to manage the dollar's value. Of course, Greenspan was not working alone--every president since Ronald Reagan has embraced his views. Written for lay readers, The Demise of the Dollar offers a practical analysis of what the "twilight of the Great Dollar Standard Era" may bring. --Shawn Carkonen

Review

"...getAbstract.com strongly recommends this" (getAbstract.com, 12th September 2005)

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Customer Reviews

I found this book very interesting.
J Minute
As Wiggin notes the positives of a weaker dollar, Obviously, a weaker dollar benefits the U.S. economy as it's more interdependent upon our global economy.
K. Johnson
Don't waste your time reading through the chapters.
Lucas

Most Helpful Customer Reviews

80 of 89 people found the following review helpful By C. Brown on August 18, 2005
Format: Paperback
I am a deep believer in most of the conclusions Mr. Wiggin presents. I have been following him and every single one of his "cohorts" for almost a decade and am very familiar with the conclusions he espouses. I bought the book with the hope that it would summarize the conclusions AND THE LOGIC/DATA BEHIND THESE CONCLUSIONS.

Unfortunately, the book is extremely poorly written. It has numerous unintentional, grammatical errors (did anyone proofread the book?), but this is neither my primary nor secondary complaint. My main complaints are:

1) The author bounces from issue to issue, conclusion to conclusion, often changing subjects within paragraphs. The book lacks structural logic. This makes it nearly impossible for even a seasoned reader of his ideas to follow.

2) The author repeatedly states his conclusions but fails to then back them up with data or logic. Whatever happened to the "scientific method?" Any opponent of his conclusions will have an easy time dismissing his conclusions. Does he really have data for most of his conclusions? I doubt it - even though I am from his camp.

It saddened me to see "our conclusions" so poorly presented. No wonder most economists view these conclusions as harebrained.
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180 of 207 people found the following review helpful By Jack T. on August 3, 2005
Format: Paperback
I spend a lot of time travelling overseas. And I can tell you first hand, one doesn't need to read tomes on the coming collapse in the dollar to see what lies ahead. You can feel it every time you reach for your wallet or pay for a coffee.

The dollar is quickly entering the circle of second-class world citizenship. That said, Wiggin's account is artful, direct, and thorough. I liked the historical aspect. But I especially like the way he's hitting on what's happening today. That includes all the things nobody seems to want to talk about or admit.

But there's no denying, if we don't face up to them now... the greenback is doomed. And with it, all the things that depend on America keeping a stakehold in the world economy. Wiggin makes that point and makes it hard. This is an eye-opener, worth reading.
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104 of 119 people found the following review helpful By K. Johnson VINE VOICE on August 16, 2005
Format: Paperback
Addison Wiggin explained the concepts he's informing us about in a very likeable manner and latest quick read, "Demise of the Dollar."

Wiggin touched on many concepts and wrote them in a way that will interest us "non-economist-but-interested folks." The Helicopter theory, pathological consumption, and wealth-driven consumption are delved into. Wiggin noted the many positive to a weaker dollar in comparison to a stronger one. He also gives us aspects of this weaker dollar that can benefit the investor, making this an appropriate and contemporary book. He notes accurately that the greenback is not the mainstay, and explains why and what the potential ramifications will be.

American fiscal actions and solvency are explained with some focus on the individual financial habits and psychology of the American consumer, whose spending on consumption propels 2/3 of the American economy. American government and consumer debt is noted.

As for the consumer, average per capita debt ratio is the highest in U.S. history, and home equity ownership is the lowest in U.S. history. Wealth in residential real estate, propelled low interest rates, interest-only loans, significant speculation, and pop-flipping, Americans may well be in a state of denial about the strength of the U.S. economy and their personal economic situation: a high percentage of net worth allocated in residential real estate - the house they just happen to be living in. All it will take is an economic hiccup. And, if there is no hiccup, we have wages that are flat and even declining in comparison to housing values and increasing levels of taxation.

There are many factors involved in valuation of currencies.
Read more ›
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15 of 15 people found the following review helpful By Doc Joe on September 11, 2005
Format: Paperback Verified Purchase
Maybe I expected too much. I would say give a couple of chapters on how things are terrible and the dollar is worth nothing, then use the rest of the book giving investment advice. Unfortunately, he did just the opposite, pounding us over the head for chapter after chapter about the dollar and debt and all the other bad things that are happening. Very little specific investment advice. Skip it.
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14 of 14 people found the following review helpful By peter on October 8, 2005
Format: Paperback Verified Purchase
A rehash of his "Financial Reckoning Day" and if you ordered via Amazon.com you received a six page email invitation to subscribe to an options trading financial newsletter.
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13 of 13 people found the following review helpful By B. Adams on January 15, 2007
Format: Paperback Verified Purchase
Though not nearly as fun to read as Empire of Debt, it's an excellent read about the current state of affairs in the US. This is a no-nonsense, un-shellacked account of the US economy and answers some of those questions we all have floating around in our heads (such as: The media and government say the economy is doing great but why does it seem like I have less money to live on each year?) If you're feeling depressed lately, you may want to put this one aside for awhile. But if you desire to learn how to profit from the current US slide, pick it up.
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13 of 13 people found the following review helpful By Dr. K. R. Higgins on September 10, 2005
Format: Paperback Verified Purchase
I was dumb enuf to pay for a book that was nothing more than a come-on (marketing tool) for the host of Agora newsletters, etc. he publishes. There was nothing, repeat nothing new in the book. The only part slightly of value was a list of types of investments to consider. And he gave that chapter away a few days later in "The Daily Reckoning". He just collected a bunch of short essays (read chapters) already published for free, called it a book, hyped it, and got suckers like me to buy it. What a waste of time--and money! Never again!
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